United States Steel (NYSE:X) Trading Up 3.8% – Should You Buy?

United States Steel Co. (NYSE:X) shares rose 3.8% during trading on Tuesday . The stock traded as high as $42.60 and last traded at $42.73. Approximately 3,162,966 shares changed hands during trading, a decline of 36% from the average daily volume of 4,950,606 shares. The stock had previously closed at $41.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on X. BMO Capital Markets boosted their target price on shares of United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Jefferies Financial Group reduced their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley upped their price target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Finally, Bank of America began coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Trading Up 4.8 %

The business’s 50-day moving average price is $37.97 and its 200-day moving average price is $36.91. The firm has a market capitalization of $9.72 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, analysts expect that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Hedge Funds Weigh In On United States Steel

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in United States Steel during the fourth quarter worth about $130,731,000. Castle Hook Partners LP purchased a new stake in shares of United States Steel during the 3rd quarter worth approximately $91,712,000. Forest Avenue Capital Management LP acquired a new stake in shares of United States Steel in the 4th quarter worth approximately $50,795,000. Holocene Advisors LP acquired a new stake in shares of United States Steel in the 3rd quarter worth approximately $51,620,000. Finally, NWI Management LP purchased a new position in United States Steel in the 4th quarter valued at approximately $48,946,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.